Features of interaction between financial and credit institutions and tax authorities

Abstract

Importance: study of the category of tax liabilities in the context of interaction of financial and credit institutions (banks) with participants in tax legal relations. Purpose: consideration of the fundamental features of the relationship between banks and tax authorities, consisting in the specifics of the property interest of the former. Research design: the essence and features of financial and credit institutions (banks) as independent taxpayers are studied. The main responsibilities of banks as subjects of tax legal relations are highlighted, emphasizing that they act not only as taxpayers, but also as active intermediaries in the tax process, bearing appropriate responsibility for this. Specific features of the process of collecting taxes from banks and other financial institutions are formulated, distinguishing it from taxation of enterprises in other industries. The activities of the banking sector of the economy and the payment of corporate income tax by banks are briefly assessed. Based on the results of the study, problems and prospects for overcoming them in the field of taxation of banking activities are identified. The practical significance of the developed theoretical tools lies in their versatility and applicability for studying and reducing risks in the taxation system of credit institutions. Results: the role and features of financial and credit institutions (banks) as specific participants in tax legal relations are revealed: independent taxpayers, tax intermediaries, tax agents. The analysis of financial results of credit institutions’ activities is performed, which revealed multidirectional trends indicating a complex macroeconomic situation and changes in the competitive environment. An assessment of the payment of income tax by commercial banks is carried out, demonstrating an obvious colossal difference in the amount of tax paid, directly correlating with the scale of banking activities. Based on the analysis of the features of the relationship between financial and credit institutions in the field of taxation, including industry-specific ones, the main responsibilities of banks as subjects of tax legal relations are formulated. Problems and prospects for overcoming them in the field of taxation of banking activities are highlighted.